Acushnet (GOLF) Set to Announce Earnings on Thursday

Acushnet (NYSE:GOLF - Get Free Report) is set to announce its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Acushnet has set its FY 2024 guidance at EPS.Parties interested in registering for the company's conference call can do so using this link.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analysts' expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. On average, analysts expect Acushnet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Acushnet Stock Performance

Shares of GOLF stock traded down $0.35 during mid-day trading on Thursday, hitting $61.30. 463,158 shares of the stock were exchanged, compared to its average volume of 308,292. The stock's fifty day simple moving average is $63.97 and its two-hundred day simple moving average is $64.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. Acushnet has a 12-month low of $49.42 and a 12-month high of $74.77. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 21.42 and a beta of 0.84.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet's dividend payout ratio (DPR) is 29.86%.

Analyst Upgrades and Downgrades

GOLF has been the topic of a number of research reports. Compass Point lowered their price target on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and cut their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial upped their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $67.43.

Insider Buying and Selling

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company's stock, valued at $2,016,398,287.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.60% of the stock is owned by insiders.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.